Tokyo tumbles in early trade following Friday's European meltdown, the Nikkei -1.5%. In Hong...

Tokyo tumbles in early trade following Friday's European meltdown, the Nikkei -1.5%. In Hong Kong, the Hang Seng -0.8%. S&P 500 futures -0.2%, German Dax futures -0.3%. The euro -0.4% to $1.3020. The yuan declines a bit against the greenback following Beijing's weekend widening of the trading band - not what the Treasury Dept. had in mind when it heard the news on Saturday.

Don't worry "The Growth Brigade" (Larry Summers, Paul Krugman,George Soros and a "Chicago-based consultant") has joined Socialist presidential candidate Francois Hollande in a tour of the EU promoting the same failed economic policies they have run here for the past three years.